LinkedIn·Tuesday, 25 August 2026·1d ago

📢 EU steel prices are already rising because of the CBAM, increasing revenues for both importers and EU steelmakers. On 4 August, we…

Sandbag

2,686 followers

📢 EU steel prices are already rising because of the CBAM, increasing revenues for both importers and EU steelmakers. On 4 August, we hosted a webinar to launch Sandbag’s report ”The EU CBAM’s Real Impact on India”, with a panel discussion on the topic. Jonathon Carruthers-Green, steel market analyst at MEPS International noted that: “In late 2025 we saw EU steel prices beginning to go up, and the main reason was uncertainty around CBAM. Not necessarily because any carbon costs were applied immediately, but because importers were unsure exactly how much the carbon costs were going to be. From October to January 2026, prices on average rose by about 50 euros per tonne of steel.” This finding aligns with the findings of our report: 🔹 in a scenario where the emission intensity of Indian goods is based on country, CBAM fees on India goods are €762 million but net costs are only €428 million when taking into account revenues from higher prices in EU markets 🔹 if taking into account optimisations made by exporters and rising EU market prices. In this scenario, CBAM fees are €407 million but net costs are only €79 million. 🔹 net costs can turn into profits in a an ‘ambitious scenario’, in which new low-emission capacity is deployed. 🔗 Link to the report and webinar recording in the comments below.